Pakistan has set up an 18-member committee to drive bilateral economic talks and negotiations with Saudi Arabia, according to a notification from the Prime Minister’s Office.
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Pakistan dispatches first critical minerals to US in $500 million partnership push
ISLAMABAD: Pakistan has shipped its first batch of rare earth elements and other critical minerals to the US, marking a key step in a $500 million deal aimed at bolstering economic ties and integrating the South Asian nation into global supply chains for materials vital to defence and technology.
Pakistan’s sovereign default risk plunges, ranking second globally in CDS improvement
ISLAMABAD: Pakistan has notched one of the sharpest drops in sovereign default risk worldwide, emerging as the second-best performer globally according to Bloomberg data on credit default swap (CDS)-implied probabilities, an adviser to the finance minister said on Sunday.
PIA to resume UK flights with Manchester-Islamabad route from Oct. 25 after five-year ban
ISLAMABAD: Pakistan International Airlines (PIA) will restart flights to the United Kingdom on October 25, launching nonstop service from Manchester to Islamabad, the carrier said Saturday, marking its return to British airspace after a five-year hiatus.
Pakistan poised to unlock over $1 billion IMF tranche despite fiscal slippages – report
ISLAMABAD: Pakistan is on track to secure more than $1 billion as the third tranche of its International Monetary Fund bailout, even with some fiscal shortfalls, as officials kick off policy-level talks with a visiting IMF review mission, Dawn newspaper reported on Saturday.
FBR uncovers Rs384 million customs fraud at Karachi airport
KARACHI: The Federal Board of Revenue has exposed a sprawling customs fraud at Jinnah International Airport in Karachi, involving the illegal removal of high-value electronic goods worth hundreds of millions of rupees without proper declarations or payment of duties, a statement said on Friday.
Procter & Gamble to exit Pakistan operations, shift to distributor model
KARACHI: Procter & Gamble Co. plans to shutter its manufacturing and commercial operations in Pakistan as part of a broader restructuring, joining a wave of multinationals scaling back in the South Asian nation amid economic headwinds.
Inflation jumps to 5.6 percent in September, topping ministry forecast after floods fallout
ISLAMABAD: Pakistan’s headline inflation accelerated sharply to 5.6% year-on-year in September, data from the Pakistan Bureau of Statistics showed on Wednesday, dashing the finance ministry’s hopes of a contained rise after devastating floods hammered the economy.
Pakistan clears $500 million Eurobond on time, signals debt discipline
ISLAMABAD: Pakistan has repaid a $500 million Eurobond on schedule, signalling fiscal discipline amid improving foreign reserves and a more sustainable debt profile, according to the government.
Pakistan sees September inflation holding at 3.5–4.5 percent despite flood disruptions
ISLAMABAD: Pakistan’s economy has maintained stability and shown signs of growth in the first two months of the fiscal year despite severe flooding, with consumer inflation projected to remain in a manageable 3.5-4.5% range in September, the finance ministry said on Tuesday.